Gus Faucher

1 week ago | post-gazette.com | Gus Faucher |Tim Grant

Recession risks have increased as higher tariffs are set to weigh on the U.S. economy over the next few months. According to the June Blue Chip survey of economic forecasters (PNC is a participant), the probability of recession over the next 12 months is 41% as of June, up from 26% at the beginning of 2025.

2 months ago | post-gazette.com | Gus Faucher |Tim Grant

As federal agencies roll out new data on the local economy, there is good news and bad. The government has updated the definition of the Pittsburgh metropolitan area, after the 2020 Census, adding Lawrence County. The Census Bureau also has released population numbers for the expanded metro area, while the Bureau of Labor Statistics has updated employment figures. The good news: The population in greater Pittsburgh grew slightly in 2024, the first increase in a decade.

2 months ago | post-gazette.com | Tim Grant |Gus Faucher

Downtown-based PNC Financial Services Group reported a strong first quarter, but management cautioned that uncertainty around tariffs and trade wars threaten to harm the economy and consumers. "PNC had a strong start to the year,” Bill Demchak, chairman and CEO said Tuesday during the bank’s earnings call. “We grew customers and commercial loans, expanded our net interest margin, increased capital levels and maintained solid credit quality metrics.

Dec 15, 2024 | post-gazette.com | Gus Faucher

This holiday season is shaping up to be another good one for retailers. With a solid job market, good wage growth and slowing inflation, consumers have money to spend, and PNC expects holiday sales to increase about 5% from 2023. With goods prices down slightly over the past year, the increase will come from higher volumes. Although high inflation has been a problem for U.S. households over the past few years, they are generally in solid shape. Most importantly, the labor market is very good.

Nov 24, 2024 | msn.com | Gus Faucher

Continue reading More for You   Continue reading More for You